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Which of the following is not a requirement that is needed for a taxpayer to be able to take an ordinary deduction for depreciation expense
Which of the following is not a requirement that is needed for a taxpayer to be able to take an ordinary deduction for depreciation expense related to its property? Taxpayer uses the property in a trade or business. The property is expected to last more than a year. The property has a determinable useful life. Taxpayer has title to the property. The property is recorded at cost on its financial statements
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